This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

2013 CoreLogic Storm Surge Report Estimates 4.2 Million U.S. Homes Valued At An Estimated $1.1 Trillion At Risk Of Hurricane Storm-Surge Damage





IRVINE, Calif., May 31, 2013 /PRNewswire/ -- CoreLogic ® (NYSE: CLGX), a leading residential property information, analytics and business services provider, today released its 2013 CoreLogic Storm Surge Report featuring updated estimations on both the number and value of single-family homes exposed to hurricane-driven storm-surge damage within the United States. According to this year's analysis, more than 4.2 million homes along the U.S. Atlantic and Gulf coasts are located within storm-surge risk zones, totaling more than $1.1 trillion in property exposure.

(Logo:  http://photos.prnewswire.com/prnh/20100609/CLLOGO)

The CoreLogic Storm Surge Report, issued annually, provides a breakdown of residential property risk along the Atlantic and Gulf coasts at five key geographic levels – national, regional, state, metro and ZIP code. The 2013 findings reflect a significant increase in both the number of total properties at risk, as well as total value. This year's report features an enhanced methodology using CoreLogic Automated Valuation Model (AVM) data that improves the accuracy of the analysis. New this year, the report also provides an estimation of the potential increase in risk based on theoretical future rises in sea level. 

"Public awareness of the risk hurricane-driven storm surge poses to coastal homeowners has never been higher coming off the heels of Hurricane Sandy last fall," said Dr. Howard Botts, vice president and director of database development for CoreLogic Spatial Solutions. "Sandy was a harsh reminder of the potential destruction associated with storm-surge flooding, and of just how many communities are vulnerable to that risk, in areas typically assumed to be relatively safe from hurricanes along the northeastern Atlantic shoreline."

In fact, also this year, the Federal Emergency Management Agency (FEMA) released preliminary revised flood maps that increase the scope of designated flood zone areas in several New York City suburbs to include 35,000 additional homes and businesses not previously identified as existing within a flood zone.

CoreLogic publishes the annual Storm Surge Report to enhance understanding of the additional risk hurricane-driven storm surge poses to homes located in areas prone to tropical storms. Storm surge is triggered primarily by the high winds and low pressure associated with hurricanes, which cause water to amass inside a storm as it moves across the ocean before releasing as a powerful rush overland when the hurricane moves onshore. In addition to the property damage and potential lives lost to flooding, the speed and force associated with storm-surge waves can significantly increase geographic and economic impact in hurricane disaster areas. 

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,931.90 -138.50 -0.77%
S&P 500 2,092.94 -21.55 -1.02%
NASDAQ 4,948.0080 -68.9210 -1.37%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs